Last week we told you about a unique high-mileage vehicle service contract plan called WiseMVP. This protection from Wise F&I is more important than ever, as customers keep their cars longer and more trades come in with well over 100,000 miles.
WiseMVP covers most cars up to 20 years old with up to 200,000 miles on the clock – and terms can range from three months/3,000 miles or up to 60 months/75,000 miles. This makes a whole category of vehicles more salable because customers can enjoy the coverage of a vehicle service contract on an older vehicle. Backed by AM Best A+-rated Old Republic Insurance, it’s coverage customers can trust.
Customers choose WiseMVP to take the doubt out of owning a higher-mileage vehicle and enjoy cost certainty. Pricing for eligible vehicles is based on three vehicle classes, and customers can choose from three levels to get the coverage and price that works meets their needs:
- Regular Plan Coverage includes the engine, transmission, transfer case and drive axle
- Premium Plan Coverage adds cooling, fuel, steering, suspension, air conditioning, brakes, electrical, seals and gaskets
- Ultra Plan Coverage adds more comprehensive coverage of the all included systems, hybrid electric drive and chassis hardware
Repairs can be done at any licensed facility. All plans work with a simple $100 deductible and include towing, roadside assistance and car rental. The coverage must be purchased at the time of the vehicle purchase, but it is transferable with a nominal fee.
Dealers will benefit in the F&I office, and dealers with service departments will enjoy WiseMVP’s simple and fair claims process. Approved repairs are paid as soon as repairs are completed at the dealer’s normal customer pay hourly rate (including diagnostics) with full retail parts prices covered as well.
WiseMVP is a high-margin F&I product designed to boost your pre-owned sales. Start getting more out of older trades and your F&I office today.
To learn more about WiseMVP terms, vehicle eligibility and pricing, contact FLADCO.